Business Daily from THE HINDU group of publications
Thursday, Oct 16, 2008
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Business Daily from THE HINDU group of publications Thursday, Oct 16, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Northcotepura is where a cattle farm was set up to protect animals in the 1899-1900 famine with a donation of Rs 1,000 from Jamsetji Nusserwanji Tata Nano to roll out from the same place Virendra Pandit Gandhinagar, Oct. 15 The Gujarat Government on Wednesday decided to ask Tata Motors Ltd to pay Rs 400.65 crore for the land allotted last week to the automobile major near Sanand town in Ahmedabad district for its Rs 1 lakh-car Nano. Market rateAt the current market rate of Rs 900 a sq. metre, the State Government has allotted 1,100 acres valued at Rs 400.65 crore, an official spokesman said. The State Cabinet, at its weekly meeting held here today, took a decision in this regard. The meeting was presided over by the Chief Minister Mr Narendra Modi. The Cabinet also resolved that the company would pay compound interest at 8 per cent from the date of possession of land, for staggered payment of the price, to the State Government. The Government had decided to allot land at Northcotepura, near Sanand, last week. This was part of the 2,200 acres owned by the Anand Agriculture University (AAU) near Sanand. Northcotepura, named after Lord Henry Northcote, the then British Governor of Bombay Presidency (1900-1903), is where a cattle farm was set up to protect animals in the 1899-1900 famine with a donation of Rs 1,000 from Jamsetji Nusserwanji Tata, great-grandfather of Mr Ratan Tata, besides others. Nano would roll out from the same place. A plaque to this effect is still seen at the plot of land acknowledging the donations from various people for the cattle farm. After the State Support Agreement, signed last week between the Gujarat Government and Tata Motors, the district and State-level valuation committees have undertaken the process of valuation of land costs involved to enable the State Government to arrive at a decision. Tatas pick Gujarat for Nano Tata Motors officials inspect another site in AP Tata Motors’ team visits sites in AP, Karnataka More Stories on : Cars | New Projects | Policy | Tata Motors Ltd
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